By Josh Beckerman
Winnebago Industries shares declined after Truist Securities and BMO Capital reduced their price targets.
The stock was 7% lower Friday at $34.95 and is down about 26% this year. Truist lowered its target to $50 from $58 while BMO decreased its target to $60 from $70.
The RV and boat maker said Thursday that revenue for the second quarter ended March 1 fell 12% to $620.2 million, reflecting a reduction in average selling price per unit related to product mix.
Winnebago revised full-year revenue guidance to $2.8 billion to $3 billion, compared with its previous outlook of $2.9 billion to $3.2 billion, citing "stubborn interest rates, inconsistent consumer sentiment, and dealers that continue to push inventory levels lower."
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
March 28, 2025 14:08 ET (18:08 GMT)
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